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The latest business news in Nigeria, Africa and the world.

BDCs Seek Yuan Disbursements, Seek To Deepen Naira-Yuan Swap Deal

BDCs Seek Yuan Disbursements, Seek To Deepen Naira-Yuan Swap Deal

The Association of Bureau De Change Operators of Nigeria (ABCON) on Saturday urged the CBN to approve the Renminbi (Yuan) disbursements to its members, to deepen the China-Nigeria Swap deal.

Nigeria, Firm Sign Pact For 10,000 Tractors

The Federal Government has signed an agreement with a tractor manufacturing company to give 10,000 tractors to rural farmers in the country.

Airlines Made N505bn Via Ticket Sales In 2017 – NCAA

The Nigerian Civil Aviation Authority has said that the country's domestic carriers and international airlines operating into the country made a combined ticket sales of N505.2bn in 2017.

$16bn Egina Project: Senate Commences Audit

The Senate has directed the suspension of further variations on the Total Upstream Nigeria Limited 16.3 Billion dollar Egina Deep Sea Oil Project.
Omokri

Nigeria’s Inflation Falls To 11.61% In May

Nigeria's Consumer Price Index (CPI) for May decreased to 11.61 per cent (year-on-year) from 13.34 per cent recorded in April, says the National Bureau of Statistics. 

CBN Injects $210m Into Forex

The Central Bank of Nigeria (CBN) on Tuesday injected 210 million dollars to meet customers’ requests in various segments of the foreign exchange market.

Petroleum Marketers Assure Of Product Availability During Eid-el-Fitr

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has assured of enough supply of petroleum products in the Southwest during the Eid-el-Fitr holiday.
Aliko Dangote

Dangote Named First African Ambassador For Responsible Tourism

United Nations World Tourism Organisation (UNWTO's) has named Aliko Dangote the first African Ambassador for responsible tourism.

2018 Budget Hampering Nigeria’s Economic Target — LCCI

The late passage of the 2018 budget is hampering the country's aim of becoming one of the top 20 economies by 2020, the Lagos Chamber of Commerce and Industry (LCCI)

Insurance Services Suffering From Inadequate Agents — Operator

Nigeria's insurance sector is under-served with about 20,000 agents in the country, says Executive Director of Ensure Insurance Plc Owolabi Salami.
Prepaid meter

FG Releases N37bn Grant For Prompt Meter Supply To DisCos

The Federal Government says it has taken advantage of the new Meter Asset Provider (MAP) regulations to give a grant of N37billion to a private sector operator to supply meters to interested Distribution Companies (DisCos).

BoI, Ebonyi Roll Out N4bn Agric Fund For Civil Servants

The Bank of Industry (BoI) and the Ebonyi State Government are to collaborate in a N4 billion matching funds to enhance the fortunes of civil servants in the state through agricultural activities.
electricity

EKEDC Fingers Nat’l Grid Collapse For Power Outage

The Eko Electricity Distribution Company has fingered system collapse from the National Grid for the poor power outage experienced by some of its customers on Friday.

Why I Refused To Remove Emefiele – Buhari

Central Bank of Nigeria (CBN) Governor Godwin Emefiele was not removed so as to salvage the economy, says President Muhammadu Buhari.

Nigeria To Get N400bn From Asset Sales In 2018

Nigeria is expecting to raise N400n ($1.3bn) through asset sales in 2018, according to the Bureau of Public Enterprises (BPE).
naira-and-dollar

Nigeria’s Foreign Reserve Slump By $169m

Nigeria's foreign exchange reserves slumped by $169m to $47.436bn, according to data released by the Central Bank of Nigeria (CBN).
Prepaid meter

NERC Approves 8 More Companies For Prepaid Meter Procurement

The Nigerian Electricity Regulatory Commission (NERC) has granted approval to eight more companies to participate in the procurement process for meters.

Nigeria’s Trade In Goods Hit N7.2tr In Q1

Nigeria's trade in goods for the first quarter of 2018, according to the National Bureau of Statistics (NBS), is N7.21 trillion.
NERC

Meter Manufacturers Begs FG To Weaken Discos’ Monopoply

The Electricity Meters Manufacturers Association of Nigeria (EMMAN) has called on the Federal Government to weaken the monopoly of electricity distribution companies (DisCos).
fuel-pump

NNPC Denies Planned Hike In Fuel Price

The Nigerian National Petroleum Corporation (NNPC) has said that there are no plans to increase the price of petroleum in the country. 
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